Planet GOOG

New Use Case for Google Glass? Controling Misbehaving Wall Streeters

"Would the knowledge that everything we did was being recorded change our behavior?"
Only models look this good in Glass. (Photo: Google)

Gonna get busted. (Photo: Google)

There’s always some trader who’ll find a way to lose a couple billion dollars, no matter what kind of risk management software Wall Street installs on its servers. Tape the phone calls, monitor the emails, and somehow they still get around the safeguards.

Well, a columnist for American Banker has been giving the problem some thought, and he’s decided the solution is Google Glasses.

“Orwellian or not, putting computer-enhanced glasses on traders is the next logical progression,” he writes.

If traders knew that compliance staff was recording and occasionally live-monitoring their trading floor activities from their perspective, could we prevent future multibillion dollar losses? Unlike previous methods of keeping tabs on trading desks, Google’s new device will record every conversation and store everything the trader sees.  Would the knowledge that everything we did was being recorded change our behavior?

Judging from the appalling misbehavior on the Real Housewives franchise, the answer to that question is no.

(h/t Felix Salmon)

Follow Kelly Faircloth on Twitter or via RSS. kfaircloth@observer.com